There Are Three Limitations on the Qualified Business Income Deduction

question 36

True/False

There are three limitations on the qualified business income deduction.An overall limitation (based on modified taxable income), another that applies to high income taxpayers, and a third that applies to certain types of services businesses.

---

Definitions:

Gene Mutations

Alterations in the DNA sequence of a gene, which can lead to changes in the protein product and potentially affect the individual's trait or health.

Skin Cancers

Cancers that arise from the skin due to the uncontrolled growth of abnormal skin cells, often resulting from prolonged exposure to ultraviolet radiation.

Species Decline

The decrease in numbers or genetic diversity of a species, often leading to its potential extinction.

Ecological Restoration

The practice of renewing and restoring degraded, damaged, or destroyed ecosystems and habitats in the environment by active human intervention and action.